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Agree with you johnpwh. Nevertheless, ISAT is already xd so you will get divi on 30/5 even if you sell on Monday. Note the divi and sale consideration are priced in USD, so you will get more or less GBP depending on the exchange rate at that time. I cannot see GBP rising against USD in short-term - especially with hard Brexit back on horizon - so will hold for currency benefit and possibility of authorities kicking this out and US buyer stepping in. Could well be wrong on all three counts with GBP rising, authorities kicking this out and no US buyer moving in ...
Thanks Dinoken. Bit of a wait then! May be tempted to shuffle off after receipt of the divi. I still think this is a sad end for a pioneering British Company.
According to ISAT prospectus, D Day when shares are no longer traded is sometime in Q4 with long stops on 10/12 and Friday 13/03/2020. Cheques despatched 14 days after D Day. Authorities could block right up until D Day. If this happened, it would open door to either no bid or a US based fund bidder taking over. US fund bidder would most likely be successful.
blocking not clocking!
Hi
Re Dinokens post, do we know when 'sometime in the next year' is? Is there still any prospect of the authorities clocking this takeover? Thanks in advance
Takeover agreed, no rival bid. Looks like the end. 12c divi 30/5 and 709c payment sometime within next year. Shame, always thought another bidder would come in.
Meeting is 10th May. Rival bid needed before then, within the next week. Deutche target (1/5) is 575.
https://www.telegraph.co.uk/business/2019/05/01/charges-send-inmarsat-crashing-quarterly-loss/
Article says investors holding Ligado debt may make a rival bid. Dated 1st May.
deutschbank target price of £5.75 . Can't fault them for consistency - they've been saying that for the last year
can someone give me a snapshot what the resolution is about
Thought share price would fall after a story like this. One less potential bidder.
Hi John
Ironically this is one of those rare occasions where I stand to make a profit! You are right though there is nothing PI's can do to affect the outcome, at least I have registered my protest vote.
Good luck.
Hi PF
You are totally right to vote with your conscience, I applaud that. I doubt however that PIs have the power to make any difference to the outcome.
I am torn. I don't like the deal, I don't like the loss of this tech company from the UK. However the bid has been in the open now for some considerable time, the only serious alternative bidder we are aware of just dropped out and there appear to be no others - its not as if alternative potential suitors have not heard whats going on!! If this bid gets overturned then the best we can hope for is a small additional sweetener. However if the bid simply fails then the SP will be back in the mid 300s until the earnings improve which could take years. So despite showing a loss at this price I just want out.
For what it is worth I have voted against the Scheme, I hope others do likewise.
https://news.sky.com/story/investment-giants-ground-3bn-rival-inmarsat-bid-11703936
GS now have 8% I see.
Everyone shareholder here seems as disinterested as I am.
Just doesn't sit right with me. Loss of a British tech company to a assortment of individuals, on terms that are barely better than the robustly resisted attempt at takeover last year. Plus I'm actually making a sodding loss at this price!
Just feels like a stitch up, not that I have anything concrete to base that assertion on. I just want it done and finished now, move on, I am about as interested now as I am with Brexit!
Holdings RNS - JPM increased position a bit; you'd hope they know something more than us
You could not make it up …
Perused the Scheme of Arrangement document and found that although the meeting to approve the takeover is May 10th, D Day when shares are no longer traded is sometime in Q4 with long stops on 10/12 and Friday 13/03/2020 ! Cheques despatched 14 days after D Day.
Hope someone comes in with counter offer before 10/5.
Vampire Squid acquire 6% stake provided they play their instruments. Why have they acquired them and what will they do with them is the question. IMO expect another bid.
Sorry, any views!
Anything views on the GS TR1 this morning?
Morbox - beggars belief that they accepted an offer substantially lower than the 'low ball' offer made last year. IMO has everything to do with them keeping their jobs (at shareholders expense). Hoping for a counter bid or regulators kicking this into touch.